Newell Brands CEO finds buyer for One Thousand Museum condo

A waterfront home in Coral Gables and a condo at the Zaha Hadid-designed One Thousand Museum tower topped last week’s signed contracts report. 

Buyers signed contracts for 11 properties between July 29 and Aug. 4, marking an increase in activity during an otherwise slow summer, according to the Eklund-Gomes report, authored by the Douglas Elliman team. The combined asking prices for the properties totaled $67.3 million. Four contracts are for single-family homes, while seven are for condos. 

The four-bedroom, two-and-a-half-bathroom house at 1220 Lugo Avenue in Coral Gables was the most expensive home to secure a buyer last week. The 2,101-square-foot house, built in 1971, is on the market for $8.5 million with Deanella Aldana of Casabella Miami Realty. The two-story house sits on a 0.4-acre lot with a boat dock. It was renovated within the last year, according to the listing. 

The most expensive condo to enter into contract was unit 4202 at One Thousand Museum, at 1000 Biscayne Boulevard in downtown Miami. The 4,600-square-foot, four-bedroom, five-and-a-half-bathroom condo is on the market for about $7.8 million. Berkshire Hathaway HomeServices EWM Realty agent Jason Zarco has the listing. 

Ravichandra Saligram, president and CEO of Newell Brands, and his wife, Nalini Saligram, who leads a nonprofit that focuses on chronic diseases, paid $6 million for their unit in 2019. The half-floor condo’s east and west terraces span the width of the entire unit, according to the listing.

The single-family homes averaged 60 days on the market, and an average price of $6.9 million.

The condos spent about 135 days on the market on average before entering into contract. The units have an average price of nearly $5.7 million, or $1,561 per square foot. 

The previous week, buyers signed contracts for six homes and condos in Miami-Dade County, asking a combined $73 million.

Eklund-Gomes’ report, based on pending deals recorded on the Multiple Listing Service, is modeled after Donna Olshan’s report that tracks new deals in Manhattan. Last week in New York, buyers signed contracts for 14 homes, according to the latest Olshan report. Their combined asking price was $98 million, and the typical home spent 810 days on the market.